Conditional Controlled Account Bank definition

Conditional Controlled Account Bank. Bank of America, N.A. or such other depositary bank reasonably acceptable to the Administrative Agent, it being understood and agreed that, following the second Trigger Event or Adjusted Trigger Event to occur hereunder, the Borrower shall, upon the request of the Administrative Agent, promptly (i) replace the existing Conditional Controlled Account Bank with a new financial institution reasonably acceptable to the Borrower and the Administrative Agent, (ii) cause such successor Conditional Controlled Account to be subject to a control agreement in favor of the Administrative Agent in form and substance reasonably acceptable to the Administrative Agent, which control agreement shall be the Conditional Account Control Agreement specified herein and (iii) cause its Subsidiaries to modify the Irrevocable Account Direction to reference such successor Conditional Controlled Account.
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Conditional Controlled Account Bank. JPMorgan Chase Bank, N.A. or such other depositary bank reasonably acceptable to the Administrative Agent.
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Conditional Controlled Account Bank. [ ] or such other depositary bank reasonably acceptable to the Administrative Agent.
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Examples of Conditional Controlled Account Bank in a sentence

  • The Term Loan Agent and each Additional Agent hereby agree not to issue any instructions concerning the Conditional Controlled Account or the disposition of any funds in the Conditional Controlled Account until after the delivery of a Conditional Account Agent Transfer Notice by the Revolving Agent to the Conditional Controlled Account Bank.

  • The Administrative Agent shall have received (i) evidence satisfactory to it that each of the Account and the Conditional Controlled Account has been established and continues to exist, (ii) the Account Control Agreement, executed and delivered by the Administrative Agent, the Borrower and the Account Bank and (iii) the Conditional Account Control Agreement, executed and delivered by the Administrative Agent, the Borrower and the Conditional Controlled Account Bank.

  • The Revolving Agent hereby agrees to deliver a Conditional Account Agent Transfer Notice to the Conditional Controlled Account Bank (i) upon the Discharge of Revolving Credit Obligations and (ii) prior to the Discharge of Revolving Credit Obligations, at the request of the Initial Controlling Other Pari Passu Agent, after the expiration of the Initial Standstill Period and so long as the Revolving Agent has not commenced any Enforcement Action.


More Definitions of Conditional Controlled Account Bank

Conditional Controlled Account Bank. Xxxxx Fargo Bank, N.A. or such other depositary bank reasonably acceptable to the Administrative Agent.
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Conditional Controlled Account Bank means Bank of America, N.A. or such other depositary bank which may be the “Conditional Controlled Account Bank” pursuant to the Revolving Credit Agreement.
Sample 1

Related to Conditional Controlled Account Bank

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Designated Account Bank has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that is located within the United States that has been designated as such, in writing, by Borrowers to Agent).

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Blocked Account Banks means the banks with whom deposit accounts are maintained in which material amounts (as reasonably determined by the Administrative Agent) of funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Controlled Account means each deposit account and securities account that is subject to a Qualifying Control Agreement.

  • Account Bank Agreement means the account bank agreement dated 15 August 2018 between the Issuer, the Trustee and The Bank of New York Mellon, London branch as the same may be amended, restated, amended and restated, novated, varied, supplemented, substituted, assigned, extended or otherwise replaced or redesignated from time to time;

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Blocked Account Control Agreement means the Cash Management Agreement among Borrower, Cash Management Account Bank and Lender providing for the exclusive control of the Cash Management Account and all other Subaccounts by Lender, substantially in the form of Exhibit A or such other form as may be reasonably acceptable to Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Account Bank means any of them.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.